Chevron Co. (NYSE:CVX) Stake Lowered by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,202 shares of the oil and gas company’s stock after selling 1,100 shares during the period. Beck Mack & Oliver LLC’s holdings in Chevron were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter worth approximately $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $39,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth $45,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Shares of NYSE CVX opened at $137.68 on Friday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $153.54 and a 200 day simple moving average of $153.42. The firm has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. Chevron’s dividend payout ratio is presently 70.37%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.